Today’s
expected range for the Canadian Dollar against the US Dollar is 1.0880-1.0950
Today’s
expected range for the Canadian Dollar against the Euro is 1.4840-1.4920
Today’s
expected range for the Canadian Dollar against Sterling is 1.7840-1.7920
The
US Dollar is stronger this morning against the Japanese Yen and British Pound and
unchanged against the Euro. The big mover overnight was the Australian Dollar
that dropped over a full cent against the US Dollar. This resulted from a very
poor jobs report where the economists were predicting a gain of 10K and the
economy actually lost 22.6K jobs, a situation which is mirroring Canada to a
tee. The British Pound fell to a three week low against the Greenback as the UK
housing price index fell quite a bit, if the housing market in the UK is in
trouble again you can say good-bye to their recovery.
The
Canadian Dollar had a very quiet overnight session and is basically where we
left it going home last night, given that the Aussie Dollar fell so much it was
surprising that the Loonie did not follow suit. I am starting to get a sense
that maybe this move that started at the New Year is beginning to lose momentum
and in fact we may see a bit of a rally for the Loonie in the coming days. I
still do not favour much of a rally but
if US Dollar buyers can pick up some dollars at 1.0900 or below I think common
sense dictates that they do so, our more medium term view is still that USD.CAD
moves higher.
Up
today we get some US inflation data but given that inflation does not seem to
be a concern at the moment I don’t think
it will have much immediate effect on the currency market
Have
a great day
Mike
GFX
Morning Currency Rates
|
|||||||
| Currencies | 7:00am Today's Opening | Yesterday's Opening | |||||
| USD/CAD | 1.0926 | 1.0963 | |||||
| CAD/USD | 0.9152 | 0.9121 | |||||
| EUR/USD | 1.3608 | 1.3624 | |||||
| EUR/CAD | 1.4872 | 1.4939 | |||||
| STG/CAD | 1.7848 | 1.801 | |||||
| AUD/CAD | 0.9603 | 0.9775 | |||||
| CAD/JPY | 95.8 | 95.08 | |||||
| CAD/CHF | 0.8301 | 0.827 | |||||
| CAD/HKD | 7.0752 | 7.0515 | |||||
| CAD/CNY | 5.5407 | 5.5115 | |||||
| CAD/MXN | 5.5407 | 11.9519 | |||||
| Commodities | |||||||
| Gold | $1,237.00 | $1,238.00 | |||||
| OIL | $94.44 | $92.84 | |||||
| US DOLLAR INDEX | |||||||
| P.CLOSE | 81.04 | 80.64 | |||||
| OPEN | 81 | 80.87 | |||||
| US 10YR YIELD | 2.88% | 2.87% | |||||
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